Mizuho Securities USA LLC Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Mizuho Securities USA LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 71.0% during the 1st quarter, HoldingsChannel reports. The firm owned 3,584 shares of the iPhone maker’s stock after selling 8,778 shares during the period. Mizuho Securities USA LLC’s holdings in Apple were worth $626,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Moody Lynn & Lieberson LLC grew its position in Apple by 9.7% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 328,333 shares of the iPhone maker’s stock worth $58,302,000 after purchasing an additional 28,983 shares during the last quarter. S.C. Financial Services Inc. purchased a new stake in shares of Apple in the fourth quarter valued at about $3,608,000. Great Diamond Partners LLC boosted its holdings in shares of Apple by 2.4% in the fourth quarter. Great Diamond Partners LLC now owns 38,378 shares of the iPhone maker’s stock valued at $6,814,000 after acquiring an additional 893 shares in the last quarter. Eastern Bank boosted its holdings in shares of Apple by 2.4% in the fourth quarter. Eastern Bank now owns 475,452 shares of the iPhone maker’s stock valued at $84,426,000 after acquiring an additional 11,006 shares in the last quarter. Finally, Avitas Wealth Management LLC boosted its holdings in shares of Apple by 2.3% in the fourth quarter. Avitas Wealth Management LLC now owns 152,442 shares of the iPhone maker’s stock valued at $27,069,000 after acquiring an additional 3,494 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $162.51 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The company has a market cap of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The firm’s 50 day moving average is $144.31 and its two-hundred day moving average is $157.20.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. Apple’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. Analysts expect that Apple Inc. will post 6.09 EPS for the current year.

Apple declared that its Board of Directors has approved a share buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is currently 14.94%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AAPL. Loop Capital lowered their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Itaú Unibanco initiated coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Raymond James decreased their price objective on shares of Apple from $190.00 to $185.00 and set a “maintains” rating on the stock in a report on Friday. Evercore ISI boosted their price objective on shares of Apple from $180.00 to $185.00 in a report on Friday. Finally, Barclays boosted their price objective on shares of Apple from $166.00 to $169.00 and gave the stock a “maintains” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.04.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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